Comparison Chart | Avoid These Common Gold Loan Mistakes – Compare and Learn


Are you considering a Gold Loan to address an immediate financial need? Planning to fulfil your dream of buying a house or going for that dream holiday? If so, it's important to keep a few key points in mind to avoid some common mistakes that customers often make during the Gold Loan process.

Take your time to carefully analyse and consider the following factors so that you can make informed decisions and avoid common pitfalls that can impact your financial stability.

Here is a comparison chart summarising the top 10 mistakes to avoid when applying for a Gold Loan and how Muthoot FinCorp ONE can help:


Ensure the reputation of the lender When you borrow money by pledging your gold jewellery, traditional lenders decide the loan amount based on the loan-to-value ratio of Gold, which can go as high as up to 70%. Considering the value of your gold jewellery, it is more at risk with the lender while the Gold is under their safeguard. So always choose a lender with a credible and trusted reputation like Muthoot FinCorp ONE, an SBU of Muthoot FinCorp, carrying the trust and legacy of 135 plus years of serving more than a crore of happy customers across the country. At Muthoot FinCorp ONE your pledged gold jewellery is always insured for an added layer of security.

Check the lowest interest rates Look around, you will find many lenders providing gold loans with competitive features. However, always compare the different options available in the market before finalising one. At Muthoot FinCorp ONE, we offer interest rates as low as 0.83% p.m. for your Gold Loans. You can also access the Muthoot FinCorp ONE Gold Loan calculator to learn more about our Gold Loan schemes.

Scrutinise the repayment schedule Understanding your repayment plan is crucial as you can schedule your budget in advance. Enjoy the flexible repayment plan from Muthoot FinCorp ONE at your convenience. Click here to learn more about our customised schemes and interest rates as low as 0.83% p.m.

Understand the purity of Gold Your jewellery should be 18 kt and above to qualify for a gold loan. Any precious stones attached to jewellery will not be considered. To evaluate your gold loan eligibility, please use the Muthoot FinCorp ONE gold loan calculator .

Be aware of the hidden charges You may not notice certain charges during a Gold Loan process because they are hidden. These charges include processing, foreclosure, late, or auction-related charges. At Muthoot FinCorp ONE, we offer 0% processing fees for our gold evaluation and collection services from home and there are no hidden charges.

Be punctual on payment terms At Muthoot FinCorp ONE, with our flexible repayment options, you can easily repay your Gold Loan before the tenure period. In addition, our customer support team will keep you informed throughout the entire relationship so that you will not miss out on your payments. For more details you can head to our website and check out details on how to repay your gold loan.

Look for the best customer service. You may occasionally need to interact with the lender's support team during your tenure. For this reason, always choose a lender with a good track record. Muthoot FinCorp ONE, an SBU of Muthoot FinCorp Ltd, carries a legacy of 135 years plus of serving Gold Loan to a crore plus customers across the country. With us, you can enjoy working with our experienced customer support team to experience a hassle-free gold loan application process.

All these pointers are important, as customers usually ignore the above factors during Gold Loan applications. Choose Muthoot FinCorp ONE and stay rest assured that you are dealing with one of India's best Gold Loan services.

Muthoot FinCorp ONE offers gold loans with quick loan disbursal and interest as low as 0.83%* p.m. interest rates. The flexible repayment options offered by us helps you to settle the loan at your convenience.

So what are you waiting for? Head to the Play Store and download the Muthoot FinCorp ONE app. You can also visit the website today to know more.

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